IMC 2020: Reliance Industries Share Jumps 3% After Mukesh Ambani Announces 5G Rollout In 2021

While addressing Indian Mobile Congress, PM Modi said the mobile technology will help the country embark on one of the world's largest COVID-19 vaccination drive.

Reliance Industries Limited chairman Mukesh Ambani. (Image: ANI)

5G Rollout In India: After the of chairman Reliance Industries Mukesh Ambani  on Tuesday said the company plans to launch 5G services in the second half of 2021, shares of Reliance Industries jumped nearly 3 per cent to Rs 2,014 on the BSE in the intra-day deals. Speaking at India Mobile Congress 2020, Ambani said policy steps are needed to accelerate an early rollout of 5G, and to make it affordable and available everywhere. Ambani also assured that Jio will pioneer the 5G Revolution in India which will be powered by indigenous-developed network, hardware and technology components.  He also pitched for policy interventions to bring smartphones to 300 million 2G phone users in India so that they can also benefit from digital transformations. In October, Jio Platforms Ltd has informed the company is working with the US-based Qualcomm Inc. to develop 5G solutions and accelerate efforts to bring the high-speed network to the world’s second largest mobile market by subscribers. Infact, earlier this year Reliance Jio's has entered into a commercial pact with Google to jointly develop entry-level affordable 4G and possibly 5G smartphones for a '2G mukt Bharat' (free of 2G India) in the future. Meanwhile PM Narendra Modi  while speaking at the IMC 2020 said the mobile technology will help the country embark on one of the world's largest COVID-19 vaccination drive. However, the PM did not provide details. Modi said,"We need to work together to ensure a timely rollout of 5G to leapfrog into the future and empower millions of Indians. "During the pandemic, a patient consulted his doctor from his home, a trader connected with a consumer from different geography, a son connected with his mother in a different city and a student learnt from his teacher without being in the classroom, all because of your efforts. It is due to your innovation and efforts that the world was functional despite the pandemic," said PM Modi at India Mobile Congress.